S. Korea Buys Less Oil

S. Korea Buys Less Oil

South Korea's crude oil shipments from Iran slid 62.2% in December from a year ago, with imports in full-year 2015 falling 8% from 2014 in accordance with sanction requirements over Tehran's nuclear program.
The world's fifth-largest crude importer brought 207,629 tons of Iranian crude in December, or 49,094 barrels per day, compared with 548,598 tons a year ago, preliminary data from its customs office showed on Friday, Reuters reported.
South Korea, along with other major Iranian crude buyers, should import the crude no more than the level imported in 2014 under the sanctions imposed on Tehran against its nuclear program.
The South Korean customs data showed Seoul bought 5.7 million tons, or 114,595 bpd, of crude from Tehran in 2015, down 8% from 6.2 million tons, or 124,497 bpd, in 2014.
South Korea's crude oil import data usually include condensates, without giving a breakdown.
Among South Korea's four refiners, SK Energy Co Ltd and Hyundai Oilbank Co Ltd import oil from Iran. Their imports typically swing from month to month. Overall, Seoul imported 13.4 million tons of crude last month, or 3.2 million bpd, up 23.5% from 10.8 million tons a year ago. Final data for December imports with more details will be available from state-run Korea National Oil Corp later this month.

Short URL : http://goo.gl/IBAjYa
  1. http://goo.gl/aOkIxq
  • http://goo.gl/cFptRq
  • http://goo.gl/pdhjFT
  • http://goo.gl/PWjBDU
  • http://goo.gl/zJslj9

You can also read ...

Turkey Cuts Iran Oil Imports
Turkey’s biggest oil importer Tupras has cut back purchases of...
US Oil Industry Lobbies Against Russia Sanctions
The US oil and gas industry is lobbying against tighter...
Lack of Wind Jeopardizes UK Turbine Investments
It has been a stifling summer of disappointment for investors...
Tabriz Refinery Signs Tail Gas Agreement
Tabriz Oil Refining Company signed a $12 million agreement on...
Kuwaiti Crude Heading for Japan
Kuwait's newly launched Super Light crude oil is increasingly...
MAPNA Ready to Increase Installed Power Capacity
Iran's top engineering and energy enterprise MAPNA Group is...
EOR Operations Underway at North Yaran Oilfield
Operations are underway to increase oil production at North...
ICOFC Intends to Boost Gas Condensate Output
The state-owned Iranian Central Oil Fields Company plans to...